06/23/2016
‘You cannot outsource responsibility’: FCA sets out robo-advice regulation plans
Percival also explained the work the regulator is doing on innovation and technology, setting out a warning to firms considering outsourcing services.
Legal, Regulation & Compliance
06/23/2016
FCA guide to submitting STORs - Herbert Smith Freehills
The FCA has published a guide to submitting a suspicious transaction and order report (STOR) using Connect. STORs must be submitted via Connect from 3 July 2016.
06/22/2016
EU Hammers Out New Rules to Fight Corporate Tax Dodgers
Companies were able to take advantage of mismatches between tax systems of member states
06/22/2016
Pinsents, Gowling WLG and KWM appointed to reduced Royal London Asset Management panel
The panel, which has been trimmed from six firms, took effect on 1 June and will last at least three years.
06/22/2016
Get statements in writing to reduce risk of HMRC tax investigation, says Marlowe
This test is also part of the new travel & subsistence regulations introduced in April, where the onus is on agencies or umbrella companies paying expenses free of income tax and NI deductions to show there is no SDCM.
06/21/2016
Reed Smith lands CMS Cameron McKenna's capital markets head as it hunts financial services growth
He subsequently joined Jones Day, before making partner at Simmons & Simmons nearly 10 years ago.
06/21/2016
Banks out to beat Basel's capital clock
As the world’s biggest banks try to build enough capital to satisfy regulators, European investment banks have the most ground to make up.
06/21/2016
German court rules in favour of ECB crisis-fighting tool
The constitutional court ruled that the ECB's 2012 bond-buying plan called Outright Monetary Transactions (OMT) complies with German law.
06/21/2016
Nordea CEO Rejects Speculation Bank Needs to Issue More Shares
The report sent Nordea’s shares down as much as 2.9 percent in Stockholm, the most in more than a month.
06/20/2016
European Commission Adopts MiFID II and MiFIR Delegated Regulations
The Market Making Delegated Regulation is made under MiFID II
06/20/2016
ESMA Issues Opinion On Inside Information Disclosure Under The Market Abuse Regulation
In its Opinion, ESMA does not agree with the amendments proposed by the Commission.
06/20/2016
Eight fund groups make last ditch attempt to change PRIIPs rules
Worried about not including past performance data
06/20/2016
FCA fines against individuals double in year
FCA actions over the 12 months were split equally between those targeting businesses and individuals.
06/20/2016
CIMA and AICPA to form new association
Chartered Institute of Management Accountants
06/20/2016
Arck advisers ordered to pay just £562k following £50m fraud
The pair, which were convicted of fraud and forgery charges last year, must settle the confiscation orders within three months
06/17/2016
FCA charge five in alleged investment fraud
The FCA cannot provide any further comment or information at this time.
06/17/2016
Lloyds Banking Group wins £3bn bond case
UK court rules in favour of bank’s decision to redeem notes early
06/17/2016
Comments on Danish FSA inspection of Nordea Bank Danmark 2015
As of today in total 850 full-time employees are focusing on these tasks with the aim to be around 1,150 by the end of this year.
06/17/2016
Watchdogs exempt sovereign wealth and pension funds from study
The FSB will leave open the option of returning to scrutinise SWFs and pension funds, however, those people cautioned, adding that the decision is not a statement on how risky those types of funds might be.
06/17/2016
Debevoise Advises NLMK on $700 Million Eurobond and Tender Offer
The proceeds from the offering will be used to finance the purchase of existing notes due 2018 and 2019, as well as for NLMK's general corporate purposes and refinancing of its current debt.